BTC is currently trading around $62,900 and ETH around $3,500. Notable gainers in the last 24 hours are BONK, DOGE, and SHIB. The global crypto market cap is $2.45T, up 4.6% over the last day. DeFi Total Value Locked is ~$94b and BTC dominance is around 54%.
Global equity markets are little changed after US inflation rose in line with expectations in January. Specifically, headline and core PCE rose 2.4% and 2.8% year-over-year, respectively, both falling slightly from the prior month’s growth rate. Elsewhere, crypto prices were particularly volatile yesterday with Bitcoin hitting $64,000 before crashing to $59,000 and triggering over $600m in liquidations. Still, Bitcoin is higher over the last 24 hours on the heels of a record $673m of inflows into the new spot Bitcoin ETFs that also saw nearly $8b in trading volume.
Notable news includes: South Korea’s ruling party indefinitely postponed its plans to ease crypto regulations; the US government moved $922m of Bitcoin seized from the 2016 Bitfinex hack; Nigeria’s central bank is reportedly scrutinizing crypto exchanges in the country; Morgan Stanley is deciding whether to offer spot Bitcoin ETFs to its brokerage platform customers; VanEck launched a new digital asset management platform and NFT marketplace; Bitcoin miner Marathon revealed that it is developing a Bitcoin-based side chain ecosystem layer called Anduro; a leading Coca-Cola bottling partner adopted a blockchain-based system for issuing and verifying employee qualifications via Solana’s ALL.ART platform; The Musee d’Orsay commissioned its first NFT exhibition; Gemini said Earn users would receive 100% of their digital assets back in kind after an in-principle agreement with bankrupt Genesis and other Genesis creditors; Coinbase’s app crashed yesterday and showed some users a zero balance; Coinbase announced it’s adding support for the Nethermind and Erigon clients to help Ethereum client diversity; and, Solana real estate project Parcl announced that it will convert points into tokens in April.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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